Posted by Ronald * Starr(in No CA) on August 15, 2003 at 20:43:19:
Well, are some of them “keepers?” I am amazed that all of the units would be vacant. What condition are they in? Could they be rented as is?
It is hard to offer suggestions without more of a idea of what you are talking about.
For instance, are they all single family properties? Because I don’t think lease-option makes sense for properties with more than one unit.
Watch out, the way you have presented this, you are acting as a real estate licensee without having a license. You need to get ownership of the properties or the right to ownership so you become a principal. Either you get a deed or you have a slowclose contract or option to purchase. Something that you can assign to another investor.
Before you go further, I’d suggest spending some time finding out what the market is from investors for properties like this. Talk to real estate investors in the area where the properties are. Talk to agents who have listings of similar properties. There may not be any demand. If not, don’t waste time trying to flog a dead horse.
Remember: don’t make the seller’s problems your problems.
Good Investing******Ron Starr************